Summary

Concise, Contemporary, and PracticalThe ideal tool for the next generation of entrepreneurs! A time-tested book that todays students need to master the most essential and critical issues involved in starting and managing a successful new business venture. Take a look! New Sections on "Building a Business Plan," and "Putting the Business Plan to Work." Sample business plan for Sluggers, an indoor pitching/batting cage, included both in the text and on the Web site. A dedicated Web site at www.prenhall.com/zimmerer includes numerous links to relevant small business sites, complete chapter summaries with quizzes, and other valuable teaching and learning resources.

Table of Contents

The Challenges Of Entrepreneurship

The Foundations of Entrepreneurship

Inside the Entrepreneurial Mind: From Ideas to Reality

Building The Business Plan: Beginning Considerations

Strategic Management and the Entrepreneur

Forms of Ownership and Franchising

Buying an Existing Business

Building The Business Plan: Marketing And Financial Considerations

Building a Powerful Marketing Plan

Advertising and Pricing for Profit

Managing Cash Flow

Creating a Successful Financial Plan

Crafting a Winning Business Plan

Putting The Business Plan To Work: Building A Competitive Edge

Sources of Funds: Debt and Equity

Choosing the Right Location and Layout

Global Aspects of Entrepreneurship: Why Go Global?

Leading the Growing Company and Planning for Management Succession

E-Commerce and the Entrepreneur

Index

Table of Contents provided by Publisher. All Rights Reserved.

Excerpts

The twenty-first century has dawned with entrepreneurship as a major force shaping the global economy. The future growth of this economy lies in the hands of men and women committed to achieving success through innovative customer-focused new products and services. At the heart of this global movement are entrepreneurs who demonstrate their willingness to assume the risks associated with creating new business ventures. Those who possess the spirit of entrepreneurial leadership haVL1' led, and will continue to lead, the economic revolution that has proved repeatedly to raise the standard of living for people everywhere. We hope that you will join this economic revolution to bring about lasting, positive changes in your own community and around the world. This fourth edition ofEssentials of Entrepreneurship and Small Business Managementintroduces you to the processes of new venture creation and the critical knowledge you need to manage your business once it is formed. We,hope that you will follow your dream of becoming a successful entrepreneur with the help of this textbook and your instructor. Text Features Sections 2, 3, and 4 focus on "Building a Business Plan," and Section 5 covers "Putting the Business Plan to Work." Chapter 2, "Inside the Entrepreneurial Mind: From Ideas to Reality," explains the creative process entrepreneurs use to generate business ideas and to recognize entrepreneurial opportunities. Students learn tothink like entrepreneurs. Chapter 7, "E-Commerce and the Entrepreneur," serves as a practical guide to using the Web to conduct business in the twenty-first century. TheYou Be the Consultantfeature challenges students toapplywhat they've learned. Each chapter contains at least two of these boxed illustrations based on actual companies that pose a problem situation and include questions to focus attention on key issues and to launch lively class discussions. Featured companies include Tommy Bahama, JetBlue Airlines, NFL Films, and many others. Sample business plan forSluggers,an indoor pitching/batting cage, included both in the text and on the Web site. New, attractive layout includes in-margin glossary and learning objectives. Business Plan Pro,the best-selling business planning software package from Palo Alto Software, is a valuable tool that helps students build winning business plans for their entrepreneurial ideas. The end-of-chapter Business Plan Pro exercises enable students to apply the knowledge they've gained from reading the chapter to using Business Plan Pro. A brief user guide is available in the instructor's manual. The Business Discis a sophisticated experiential learning simulation, which leads students through the steps of planning and managing a small business. Using video vignettes, students interact with scores of real people as they build and operate any kind of business: service, retail or manufacturing. The end-of-chapter Business Disc exercises enable students to link the chapter content to The Business Disc experience.